Katherine J. Higgins

The Market Leader in North Bay Apartments
 

  Investment Broker                             

  Bradley Real Estate - Luxury Division

  (415) 721-2595 office

  (415) 302-7730 cell

  (415) 721-2596 fax

  851 Irwin Street, Suite 104

  San Rafael, CA  94901

  www.khiggins.com  

Apartment Investor's Advisor
August 2010 EZine
Dear Marin County Investors,

Apartment Interest Rates Continue to Fall this Summer
 
San Rafael-Good news for local investors who are looking for good deals in a slow market in Marin County. Apartment interest rates have fallen to the mid 4's in the past several months, making deal making easier and cash flow certain.
 
In the five plus unit category several mortgage brokers have called with phenomenal rates that offer a 5/1 ARM at less than 4.5%. The loan to value ratios are still 65% but one new lender in the market is willing to go to 70%. I am currently working on closing a deal in Southern Marin where the apartment buyer has locked in a rate at 4.48%. The property that was purchased in 2002 is going for less than the purchase price in that year.
For more information about these great loans contact Jeff Drawdy at All California Mortgage. He can be reached at jeffdrawdy@allcalifornia.com.
 
In the 2-4 unit category, rates are just as attractive, with investors being offered a 4.75% rate for 30 years fixed. These rates are offered by both Wells Fargo (contact Claudia Meyers at Claudia.Meyers@ wellsfargo.com or Kevin O'Neill at Bank of America. Kevin can be reached at 707-484-3436 and is a wiz at quick closing escrows.
 
Sales activity has been modest throughout the year, but definitely improved over 2009. Prices have dropped at least 30% from the peak, rents have stabilized and vacancies have dropped substantially. Marin County still enjoys a vacancy factor that continues to run less than 5%. If you haven't added to your portfolio in the past two years or are thinking of an exchange to a property with a stronger income stream, now is the time to do it.
There is less competition in the market, sellers are willing to deal, and creative financing is flourishing.
 
To discuss your investment goals, just give me a call at the office at 415-302-7730, and we can make an appointment to talk about your particular needs and time horizons.

Happy hunting!

Katherine J. Higgins
Investment Broker in Marin County 
Since 1986
Mobile: (415) 302-7730

Listed below are my current offerings:
Pride of Ownership
311-321 Valley
Sausalito
 
6 prime remodeled units.

Offered at: $2,195,000
 
 
2101 Bridgeway 
Sausalito
 
4 plex and separate cottage.
 
Offered at: $1,349,000
 
 
 
111 Clayton
San Rafael
 
Two story triplex with big owner's unit. FHA financing with 3.5% down, must be owner occupied.
 
Offered at: $795,000
 
 
Pending! 
Non MLS
Sausalito
 
Trophy property.
Offered at: $3,495,000
 
 
Sold! 
3 Bayview, San Rafael
 
6 unit Victorian on big lot.
 
SOLD for: $1,040,000
 
 
Sold!
289 Woodland, San Rafael
 
4 plex and duplex on big lot!
 
SOLD for: $1,240,000
 
 
Sold!
144 Bungalow, San Rafael

Victorian triplex.

SOLD Off Market for: $850,000
 
 
Sold!
Novato
 
Totally remodeled 4 plex near downtown.

SOLD OFf Market for: $860,000
 
 
For off market properties, please call me on my cell at 415-302-7730.